THELOGICALINDIAN - Bitcoin amount is boring acclimation appear 10300 adjoin the US Dollar However BTC will best acceptable abort to abide aloft 10300 or 10400 in the abreast term
Bitcoin Price Analysis
Recently, there was a sharp abatement in BTC beneath the $10,000 abutment adjoin the US Dollar. The amount alike traded beneath $9,800 and acclimatized able-bodied beneath the 100 alternate simple affective average. Finally, the antecedent abutment breadth abreast $9,750 acted as a abutment and prevented added weakness. As a result, there was an upside alteration accomplished aloft the $10,000 attrition area.
Moreover, there was a breach aloft the 23.6% Fib retracement akin of the capital bead from the $10,976 aerial to $9,757 low. The amount is now trading abreast the $10,200 attrition level. On the upside, there are abounding resistances abreast $10,250 and $10,300 levels. Additionally, there is a abutting bearish trend band basic with attrition abreast $10,450 on the alternate blueprint of the BTC/USD pair.
The 50% Fib retracement akin of the capital bead from the $10,976 aerial to $9,757 low is additionally cat-and-mouse abreast the $10,370 level. Finally, the 100 alternate SMA is abutting to $10,380 to act as a hurdle for the bulls. Therefore, an upside alteration appear the $10,250, $10,300 and $10,350 levels could face a strong affairs interest in the abreast term. If there is no upside break, bitcoin is acceptable to resume its abatement beneath the $10,000 support.
An actual abutment is abreast the $9,920 level, beneath which the amount is acceptable to revisit the $9,750 abutment area. Any added abatement may conceivably advance the amount appear the $9,500 abutment akin in the advancing sessions.
Looking at the chart, bitcoin amount seems to be acclimation college appear the capital barrier abreast the $10,300 and $10,400 levels. A acknowledged abutting aloft the $10,400 akin and the 100 alternate SMA may conceivably advance the amount appear the $10,600 and $10,700 attrition levels. If not, there are aerial affairs of a beginning abatement beneath the $10,000 and $9,850 levels.
Technical indicators:
Hourly MACD – The MACD is acceptable to move aback into the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is currently crumbling appear the 50 level.
Major Support Levels – $10,000 followed by $9,750.
Major Resistance Levels – $10,200, $10,250 and $10,300.
